True in theory, but not always the result.
The fact is that many people are not good lead/referral givers. And, it is not their fault. Why should you risk referring a product or service from someone you don’t know to some you do know. Our instincts tell us to stay quiet unless we are sure that a good result will come from our suggestion.
Another problem for poor lead/referral giving is that one member does not truly understand what the other member actually does. Bankers for example are not all the same. How many people in your networking group actually know what Farmers and Merchants specializes in vs. Boston Private Bank. (other than they deal with currency on a daily basis). Therefore, a banking lead to one banker may have little or no value to one but tremendous value to the other.
So, to consistently give leads, a business person has to have a good and partially in depth understanding of what the other person does in order to properly refer them. With this understanding, the opportunity to pass on a lead / referral won’t slip by because they missed the keywords in the conversation that would have triggered the comment. “I know a person who can help you with that”.
Our next blog posting will show specific examples of what Words, Phrases and Conditions lead to direct business for our Power Partners.
One our Power Partners, Cullen Hardy of The Hardy Group, has written a helpful article on Referral Generation. We have started his article below and link you to his site to complete the article.
Getting More Referrals
Cullen Hardy - September 4, 2014
We all know that referrals are one of the most effective ways for companies all over the world to get leads and new clients. Most businesses are aware that their customers are highly dependent on the recommendations from friends, family, colleagues and associates when it comes to purchasing a service from a provider. We also know that a customer referred comes into our business with some amount of trust established. This saves us time and money.
Although most service oriented companies understand this concept, they fail to effectively utilize their networks to gain maximum benefits out of referrals.
Start with the word-of-mouth strategy
If you are new in the industry, a great way to create awareness about your business is through word-of-mouth referrals. Even when it comes to tech companies, a few hundred campaigners who are highly dependent on your product will prove to be a great source of spreading the word about its utility and worth.